First Street projects the hardest-hit places will have rising home-insurance costs and population declines. The counties with the biggest projected population loss over the next 30 years are Fresno County, Calif.; Ocean County, N.J.; and Monmouth County, N.J., Writes @nicolefriedman.bsky.social
The average rate for a 30-year fixed mortgage has hovered between 6% and 8% since late 2022, making it prohibitively expensive for many Americans to buy homes at current prices.
www.wsj.com/economy/hous...
The typical household affected by the 2023 wildfires in Maui is paying over 50% more in rent for homes with the same number or fewer bedrooms than they had before.
Bowl residents don’t know if they will ever be able to build back their unique and beloved community, which they say dates to the 1950s. Residents owned their houses, but not the land beneath them, and they don’t know what the park’s ownership will decide about its future.
Soaring costs for home insurance and property taxes are rewriting the math of homeownership.
www.wsj.com/economy/hous...
“People are going, ‘Listen, we waited for a year and a half, we’ve got to make a move.’”
Early evidence suggests that commissions paid to real-estate agents are starting to decline following a landmark legal settlement, and more buyers are trying to navigate the home-buying process without an agent.
Even if this year’s sales of existing homes slightly exceed last year’s level, they are still on track for the worst two-year period since the mid-90s, when the country’s population was considerably smaller.
Sales of existing homes in the U.S. are on track for the worst year since 1995—for the second year in a row.
The National Association of Realtors appeared to hit rock bottom in October when a jury delivered a $1.8 billion verdict, finding that the industry kept home-sales fees artificially high. But the existential threat to the powerful trade group was about to get worse.
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The WSJ newsroom is reeling this morning.
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Keller Williams is the third major brokerage to reach a settlement in antitrust litigation, underscoring the pressure to resolve the legal claims rather than pay for protracted and uncertain litigation.
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Mortgage rates are falling. But the split between buyers who see mortgage rates as attractive enough to transact and homeowners who consider them too steep to sell is likely to keep the housing market from really taking off.
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250 days.
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